It is shocking that the poorest people pay the most for many of the basics in life, from borrowing money to buying essential household appliances, simply because they don’t earn a fat salary.

Millions are forced to turn to high-cost lenders online, extortionate credit cards, rent-to-buy firms that can charge four times the average price for cookers, fridges and TVs, and dodgy unregulated companies.

In doing so, they end up trapped in a debt spiral and there simply aren’t enough places they can go to for help.

Some of the most vulnerable, such as older people on pensions and ­families on low incomes, can’t afford computers to access lower prices online, and so are being hit hard with the highest prices.

The trap lying in wait

Millions are just one unexpected bill away from being trapped by high-cost credit.

High street banks and big-name shops don’t want to offer them credit at affordable rates as they don’t fit the criteria of the customers they are looking for.

This leaves people at the mercy of unscrupulous money lenders and firms raking in vast profits at their expense. Profit before people. That’s not fair.

Regulators are bringing in caps on how much regulated firms can charge people for loans and to buy goods, but that’s not enough.

It still leaves those who can least afford it paying more than those with healthy bank balances – and at risk of using ­unregulated and rogue firms to meet their financial needs.

This is totally unacceptable but there is a fairer alternative.

The fightback begins

That’s why we have teamed up with Hollywood actor and activist Michael Sheen, who now uses his acting career to fund his activism, including his determined fight against high-cost credit.

With Michael’s End High Cost Credit Alliance we want to ensure everyone has access to fair credit.

Together we will help cities, towns and communities across the UK to have access to fairer and affordable credit, and experts who can help them get their finances back on track if they hit hard times.

Michael says: “Collaborating with the Mirror means we can shine a spotlight not only on how terrible high-cost credit is for our communities, but on the great organisations, services and projects happening across the UK to make lives better.

“The tide is turning but not quickly enough. We all need to work together to eradicate unfair and irresponsible lending. Together we can put pressure on governments to act whilst also taking back control in our own communities.

“Councils, businesses, ­residents, charities, social businesses – we can all do this together.”

Fair Credit for All

Our Fair Credit for All campaign will work its way around the country and aims to have five communities confirmed as places where residents are no longer forced to pay rip-off interest rates and charges.

Areas where people can easily find providers of responsible and fair ­financial products, and have access to the financial advice services they need.

We will be persuading local authorities and the Government to join the campaign, along with debt charities and financial ­organisations such as credit unions and not-for-profit responsible lenders who offer fair products.

We want to bring together everything that communities need so people can manage their money better. We will also showcase the great services that are already ­available but not well known.

To be given a Fair Credit for All campaign stamp of approval, cities, towns and communities will need to achieve the following three criteria:

Michael adds: “Across the UK there are many great, fair and ­responsible lenders but they don’t have the budgets to market themselves the way the high-cost lenders do.

“This is a great opportunity to turn these companies into household names and make sure we all know where to find them, be it on our high street or online.”

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Plans for the rebellion

To kick off the campaign we will focus on Leeds to showcase the work being done by communities to bring fair credit and expert support to all of its residents.

We will bring you regular updates of how we are doing and what we have achieved. We’ll highlight the companies who are out there and doing a brilliant job at providing the products and support everyone needs.

We will help smaller firms doing the right things to promote themselves better, and encourage established organisations to work with them.

We will compile lists of contacts, showing where you can go in each area for all your financial needs.

We will hit the road with Michael and his team to visit areas, and help bring communities and organisations together to raise awareness of the issues affecting locals, and show how financial management transforms lives when it is carried out more fairly.

We also want to hear from readers, charities, local authorities and small firms offering fair credit. We want them to tell us about the good things that are already available and happening in their area.

In this way we can help spread the word to ensure that everyone can find access to fairer financial ­products and services.

• If you want to be part of our solution, email us at: [email protected], marking the subject line Fair Credit for All

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